Dex Media is completing a deal with creditors that would put the company into chapter 11 proceedings in December, the company’s third trip to bankruptcy court in less than seven years, the Fort Worth Star-Telegram reported today. The telephone listings company, which has $2.3 billion of debt, is finalizing the pre-packaged bankruptcy plan with a group of its senior lenders. It plans to solicit support from a wider group of lenders before filing, with a target of the second week of December. Dex has been negotiating a debt reorganization with holders of more than $2 billion of loans since at least Sept. 30. The company, based at Dallas-Fort Worth International Airport, said earlier this month that it received a proposal from the lender group. Separately, it’s been wrangling with a group of junior bondholders that have considered putting the media company into involuntary bankruptcy after it skipped a Sept. 30 interest payment.
